Friday, May 30, 2008

Getting There

I made our weekly $225 payment to the CRA today and that felt really good. I was able to get through the week without gasing up which is an absolute bonus, I'll need to review our budget this evening to see if there is anything extra I can slide over, when I looked last night there wasn't anything but I'm always looking for extra. Our balance will be around $1668.00 which is super exciting, next week we'll break through $1500.00. My preliminary calculations had us finishing this debt at the end of September but we're probably more likely to pay it off the beginning of July! It will be such a relief and a huge motivator to continue with this. We'll just have to take stock after and see what we will pay down next, as we have a few options:
1. pay the next lowest: Visa approx. $2000
2. pay $400 to get out of our cell phone contracts and get a much cheaper newcomer on the market we will make back our money in 10 months then it's all savings.
3. go another direction

I'm leaning towards getting the phones dealt with as that will only take two weeks and then we can move on to the Visa which had the highest interest rate and the lowest owing amount so we can keep the momentum going by seeing things paid off. There is no reason we can't have the Visa paid off well before the end of the year. Then the issue will be what to pay off next...again. lol
Hey it could be worse we could still have everything to pay. I guess on a positive note we should be thrilled we have the option of what to pay off next.

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